TERMS AND CONDITIONS GOVERNING THE USE OF ONLINE TRADING

In this document, the following words and phrases shall have the meanings set out below unless indicated otherwise.

"Al Wathbah Shares & Bond" or “WSBC”: means Al Wathbah Shares & Bond Center LLC.

"Customer" or "User": means any natural or juristic person who sets up an account under his/her name with Al Wathbah Shares & Bond Center and subscribes to Al Wathbah Shares & Bond Center Online Trading Service.

"Service": means "Al Wathbah Shares & Bond Online Trading service" Service for execution of local shares trading transactions via the Internet.

  1. Local shares trading transactions via the Internet shall only include those services Al Wathbah Shares & Bond Center shall determine, in its sole discretion, to be covered in the Service as it deems fit from time to time. The Service does not constitute an offer for or solicitation to the Customer to subscribe to any of the investment services provided by Al Wathbah Shares & Bond Center.

  2. The Customer hereby authorizes Al Wathbah Shares & Bond Center to accept and act upon electronic instructions submitted via the Internet and to respond to any Customer inquiries so received.

  3. The Customer acknowledges and consents that Al Wathbah Shares & Bond Center has advised him/her, and that he/she has taken note, of current technology restrictions and limitations, limitations and restriction on "Al Wathbah Shares & Bond Center Online Trading service" Service utilization, that Service availability without interruption depends on technology applications and level of compliance with the restrictions on Service utilization, and accordingly hereby releases Al Wathbah Shares & Bond Center from any and every liability which may arise as a result of Customer's inability to use the Service for any reason whatsoever.

  4. Al Wathbah Shares & Bond Center will charge the Customer the agreed fees (in consideration for subscription, continuous availability and utilization of the Service) as Al Wathbah Shares & Bond Center may prescribe from time to time. Al Wathbah Shares & Bond Center reserves the right to alter any fees at any time immediately after notification to the Customer who hereby authorizes Al Wathbah Shares & Bond Center to charge the fees to any of the Customer accounts held with Al Wathbah Shares & Bond Center.

  5. Al Wathbah Shares & Bond Center reserves the right to refuse to provide the Service to any customer for any reason whatsoever, and to refuse to act upon or respond to any instructions or queries it may receive from the Customer via the Internet without stating any reasons.

  6. The Customer shall keep strictly confidential his/her own USER ID and Password(s), and undertakes to never disclose his/her USER ID to any third party including Al Wathbah Shares & Bonds Center’s employees. Accordingly, Al Wathbah Shares & Bond Center does not accept liability for any claim or loss resulting from disclosure of the Customer's Password or transactions passed over the account that are not performed by the Customer. If the Customer suspects that any person has knowledge of his/her Password(s), the Customer must immediately notify Al Wathbah Shares & Bond Center verbally, written confirmation to follow. The Customer will be solely responsible for all instructions and inquiries actually made or which may be made until Al Wathbah Shares & Bond Center receives written confirmation and acknowledges receipt of the notification.

  7. All equipment advanced by Al Wathbah Shares & Bond Center to the Customer are and shall remain the exclusive property of Al Wathbah Shares & Bond Center. The Customer agrees and undertakes to return these equipment to Al Wathbah Shares & Bond Center immediately on demand in their original "as received" condition.

  8. The Customer consents and warrants that the Customer will not copy, reproduce or amend any software, pages or documents provided by Al Wathbah Shares & Bond Center nor will the Customer download or divert the Service software from any computer or electronic device to any other computer or electronic device.

  9. Either Al Wathbah Shares & Bond Center or the Customer may cancel subscription to the Service. If the Customer intends to cancel subscription, a written notice of cancellation must be submitted to Al Wathbah Shares & Bond Center. Al Wathbah Shares & Bond Center is entitled to cancel the Customer's subscription at any time without notice to the Customer, and such action shall not create any liabilities on Al Wathbah Shares & Bond Centers part to the Customer.

  10. Al Wathbah Shares & Bond Center does not accept liability for any losses, damages, costs or expenses whatsoever or howsoever incurred or sustained by the Customer as a result of breach of any of these terms and conditions.

  11. Any costs incurred towards Internet usage to logon to the Service shall be for the Customer's exclusive account.

  12. The Customer authorizes Al Wathbah Shares & Bond Center to send Service related advices, notices and/or correspondence in the manner Al Wathbah Shares & Bond Center deems fit. The Customer shall be responsible for the confidentiality of all Al Wathbah Shares & Bond Center generated Customer advices, notices and correspondence.

  13. Al Wathbah Shares & Bond Center does not accept liability for any errors or damages resulting from delayed or failed instructions, including:

    • Insufficient account balance to permit execution of the instructions.
    • Insufficient instructions to execute a transaction.
    • Failure to comply with the instructions or guidance given, or unclear or incomplete Customer instructions.
    • Delay or any technical fault at Al Wathbah Shares & Bond Centers end or any external agency with which Al Wathbah Shares & Bond Center does business.
    • Disruptions to the Service caused by any reason beyond Al Wathbah Shares & Bond Center's control, or a Force Majeure event, including the unavailability of power supply, electricity, Internet connections, or any similar causes.

  14. Al Wathbah Shares & Bond Center reserves the right to refuse to execute any transaction without notice or liability.

  15. Failure or delay by Al Wathbah Shares & Bond Center part to exercise any rights or remedy under these Terms & Conditions shall not operate as a waiver of such right or remedy, nor will any partial exercise of any right or remedy preclude any subsequent exercise of such right or remedy fully. Rights and remedies provided herein are supplementary and additional to any other rights or remedies provided under the applicable law.

  16. Under no circumstances will Al Wathbah Shares & Bond Center or its employees be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with logon to the site or use thereof or inability to use by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even when Al Wathbah Shares & Bond Center, or representatives thereof, are advised of the possibility of such damages, losses or expenses.

  17. Al Wathbah Shares & Bond Center reserves the right to alter these Terms & Conditions at any time, but will notify the Customer of any alternation in advance of the effective date. Continued utilization of the Service by the Customer constitutes acceptance and agreement of such alterations.

  18. These Terms & Conditions are supplementary to, and shall be governed by, any related terms, conditions and/or agreements executed by the Customer, present or in the future.

  19. These Terms & Conditions are subject to and shall be governed by the laws of the United Arab Emirates as applied in the Emirates of Abu Dhabi